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Jan 31, 2013
01/13
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economy. on the jobs front, a strong payrolls report showed private employers added 192,000 jobs in january, much more than economists expected. but the commerce department said economic growth, contracted in the last three months of 2012. the g.d.p. shrank by 0.1% the first time that's happened since the financial crisis began. the fed said in its policy statement today that it continues to see "downside risks" to the economy. unemployment is still "elevated". but household and business spending advanced. >> susie: darren gersh begins our coverage with that weak reading on the economy. >> reporter: last quarter, defense spending fell off the fiscal cliff. as lawmakers bickered, manufacturers who make things for the pentagon cut back production sharply-- defense spending fell 22% in the latest g.d.p. report, tipping the economy into the red. >> certainly manufacturers are pulling back and i think this is a bit of a wake up call that these cuts are real and that they have real effects on the ec
economy. on the jobs front, a strong payrolls report showed private employers added 192,000 jobs in january, much more than economists expected. but the commerce department said economic growth, contracted in the last three months of 2012. the g.d.p. shrank by 0.1% the first time that's happened since the financial crisis began. the fed said in its policy statement today that it continues to see "downside risks" to the economy. unemployment is still "elevated". but household...
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Feb 1, 2013
02/13
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we don't have a robust economy. so does it make sense that we'll get a double-digit rally in this environment? >> you know, based on the work that we're doing right now, no. but saying that, i think stocks can do well in a modest growth, modest inflation environment. we've been in that type of an environment. i think per's going to be in it at least through 2013. so stocks can do okay. especially stocks i think that have a lot of international exposure which the s&p 500, about 50% of those revenues come from overseas. so that's where the growth is we're going to continue to see the growth there. so i think the stock market can do okay, so to expect a 20% year in this slow-growth environment i don't think it's going to happen right now. >> i would like to ask you a little bit about a gloomy assessment that came out from bill gross, the bond guru from pimco. his february letter, he is saying he's to the buying into the bull market, telling investors that stocks pose too much of a risk for too little return. he says bu
we don't have a robust economy. so does it make sense that we'll get a double-digit rally in this environment? >> you know, based on the work that we're doing right now, no. but saying that, i think stocks can do well in a modest growth, modest inflation environment. we've been in that type of an environment. i think per's going to be in it at least through 2013. so stocks can do okay. especially stocks i think that have a lot of international exposure which the s&p 500, about 50% of...
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Feb 6, 2013
02/13
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economy hard. as darren gersh reports, president obama today asked congress to delay the cuts before the march 1 deadline. >> reporter: with $44 billion in spending cuts in defense and most other federal programs just weeks away, the president urged congress to pass a mix of spending cuts and tax increases to ease the immediate hit. >> there is no reason that the jobs of thousands of americans who work in national security or education or clean energy, not to mention the growth of the entire economy, should be put in jeopardy just because folks in washington couldn't come together to eliminate a few special interest tax loopholes. >> reporter: republicans dismissed the calls for more tax increases, and many argue the threat of the automatic spending cuts known as the sequester are the only way to force democrats to accept more spending cuts. but their leverage may be limited. >> i think we will have the sequester for a short period of time, probably until the first civilian employee of the governme
economy hard. as darren gersh reports, president obama today asked congress to delay the cuts before the march 1 deadline. >> reporter: with $44 billion in spending cuts in defense and most other federal programs just weeks away, the president urged congress to pass a mix of spending cuts and tax increases to ease the immediate hit. >> there is no reason that the jobs of thousands of americans who work in national security or education or clean energy, not to mention the growth of...
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Feb 5, 2013
02/13
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economy shrink just a fraction at the end of last year part of the economy driven by the consumer continued to grow. tonight's word on the street is consumer, david peltier back with us. portfolio manager at the street.com with us from the web site in new york. david, you know, consumer focus stock sectors outperform the broader market over the past year. can that continue? >> i think that's a really good point. especially in 2012. when-- generally the consumer sectors are considered defensive so the fact they outperformed i think they can continue to outperform in 2013. we're in a period now where essentially an all-time high and a lot of folks are calling for a bit of a pullback. >> and clearly a lot of these consumer goods companies come with dividends. thats with a theme we saw in the first half of last year but the stocks continued to do well at the end of theas year into thiserio. coca-cola someone of those you have your eye on as a dividend consumer goods, what do you like out of coke. >> i'm the resident dividend stock advisor here at the street and i really like 29.7% dividend yiel
economy shrink just a fraction at the end of last year part of the economy driven by the consumer continued to grow. tonight's word on the street is consumer, david peltier back with us. portfolio manager at the street.com with us from the web site in new york. david, you know, consumer focus stock sectors outperform the broader market over the past year. can that continue? >> i think that's a really good point. especially in 2012. when-- generally the consumer sectors are considered...
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Jan 31, 2013
01/13
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and germany are strong economies-- the 5th and 7th largest economies in the world-- and they continue to be very significant trading partners, even though their growth rates are stagnant. >> reporter: people move for many reasons-- not just a new job. it could be marriage, or a desire for a warmer climate. but there's no denying migration patterns tell a lot about regional economic differences. so where are workers moving to in the u.s.? >> washington d.c. has been the top destination for several years now. i think that's a reflection of the growth of not only governmental activity in washington, but it's defense contractors, and folks who are there to protect the interests of their company. >> reporter: oregon, nevada, north carolina, and south carolina are also popular places to move. on the other hand, states like new jersey, illinois, west virginia, new york, and new mexico had an exodus of workers. many of those departures are rooted in lack of jobs, high taxes, and expensive housing. economists are pleased to see a pick-up in moving, because it reflects greater job opportunities
and germany are strong economies-- the 5th and 7th largest economies in the world-- and they continue to be very significant trading partners, even though their growth rates are stagnant. >> reporter: people move for many reasons-- not just a new job. it could be marriage, or a desire for a warmer climate. but there's no denying migration patterns tell a lot about regional economic differences. so where are workers moving to in the u.s.? >> washington d.c. has been the top...
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Jan 30, 2013
01/13
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is this policy a risk to the economy? what do you think? >> i think the real risk from this policy comes from the exit strategy. the exit strategy is still years away, as i think most people recognize. but when the exit does come, the fed doesn't really have, i would say, aoverly robust tools to really deal with all of the additional reserves that have been pumped into the system. and that's when we think the real risk to the economy comes into play. but certainly in that article, and i think peter fisher was quoted in that article, there is a very sound point to a low-rate environment and banks effectively being unwilling to lend at these low rates. i think that is a fantastic point for the near term. more long-term, our real worry is about the exit. >> susie: real quickly, i want to ask you about the jobs report that comes out on friday because more people get jobs, it is good for the economy. >> right. >> susie: might there be a surprise that more hiring is going on? >> we do not expect any surprises, at least not any upward surprises. i
is this policy a risk to the economy? what do you think? >> i think the real risk from this policy comes from the exit strategy. the exit strategy is still years away, as i think most people recognize. but when the exit does come, the fed doesn't really have, i would say, aoverly robust tools to really deal with all of the additional reserves that have been pumped into the system. and that's when we think the real risk to the economy comes into play. but certainly in that article, and i...
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Feb 2, 2013
02/13
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>> i think our economy has been resilient. investment was strong in the fourth quarter, particularly in equipment and software. we're seeing signs that the private sector is healing. it's very important that the government doesn't get in the way, that we don't have any self-inflicted wounds, such as allowing the sequester to indiscriminately cut very important programs >> darren: but the government is raising taxes, cutting spending, the payroll tax cut went away. is that the right policy mix to create jobs? >> the president has consistently supported measures to strengthen the economy, to invest more in infrastructure in the short run, to help states and local governments keep teachers and first respond ortz job, the types of-- if you go back and look at what the american proposed in the american jobs act, what passed and what didn't pass. what passed has certainly homicide the economy. the 2% payroll tax cut which was intend to be temporary, helped support after-tax income and consumption. in the g.d.p. report we saw 14 quar
>> i think our economy has been resilient. investment was strong in the fourth quarter, particularly in equipment and software. we're seeing signs that the private sector is healing. it's very important that the government doesn't get in the way, that we don't have any self-inflicted wounds, such as allowing the sequester to indiscriminately cut very important programs >> darren: but the government is raising taxes, cutting spending, the payroll tax cut went away. is that the right...
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Jan 29, 2013
01/13
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economy is showing new signs of strength. >> i think we expect more improvements, moderate improvements. but, you know overall that's usually a cause or thought that rates could go higher. and, in that regard it's probably not a market that will have the same sort of returns that we've seen over the past two years. >> reporter: so, it seems most agree the bond market is unlikely to be a cash cow for investors going forward. at the same time, however, worries about a bond market bubble seem unfounded. suzanne pratt, "nightly business report." >> susie: immigration reform takes center stage this week. a group of senate democrats and republicans agreed today on what they called a framework for comprehensive immigration reform. tomorrow, president obama heads to las vegas to give a policy speech on immigration. with washington focused on immigration, citizenship for millions of illegal immigrants could be the first major action in president obama's second term. darren gersh reports. >> reporter: the senators-- four republicans and four democrats-- argue we have already granted a kind of amn
economy is showing new signs of strength. >> i think we expect more improvements, moderate improvements. but, you know overall that's usually a cause or thought that rates could go higher. and, in that regard it's probably not a market that will have the same sort of returns that we've seen over the past two years. >> reporter: so, it seems most agree the bond market is unlikely to be a cash cow for investors going forward. at the same time, however, worries about a bond market...
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Feb 6, 2013
02/13
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economy. erika miller, "n.b.r.," new york. >> tom: still ahead, the federal reserve is the latest target of a cyber attack, are companies taking cyber risks seriously? >> susie: on wall street today, a choppy day of trading with investors focused on new concerns about the outlook for europe's economy, and a new batch of corporate earnings. with more than half of the companies in t r shetiep&pngor, quarterly results have been better than expected. still,hey be closing bell, stocks were vy tually unchanged. the dow rose seven points, the nasdaq fell three, and the s&p added nearly a point. >> susie: while the stock market is flirting with new record highs, bill gross is worried about the future. the founder and co-chief investment officer of pimco, the giant bond fund, has just come out with a gloomy forecast, warning investors of a "credit supernova". >> susie: that sort of sounds like a sci-fi movie. but reading your report, you're trying to tell investors to stay out of the bond market. reall
economy. erika miller, "n.b.r.," new york. >> tom: still ahead, the federal reserve is the latest target of a cyber attack, are companies taking cyber risks seriously? >> susie: on wall street today, a choppy day of trading with investors focused on new concerns about the outlook for europe's economy, and a new batch of corporate earnings. with more than half of the companies in t r shetiep&pngor, quarterly results have been better than expected. still,hey be closing...